Intuitive Surgical, Inc. $ISRG Shares Bought by Tema ETFs LLC

Tema ETFs LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,704 shares of the medical equipment provider’s stock after acquiring an additional 2,170 shares during the period. Tema ETFs LLC’s holdings in Intuitive Surgical were worth $3,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ISRG. Norges Bank acquired a new stake in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. J. Stern & Co. LLP increased its position in Intuitive Surgical by 18,504.6% during the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after buying an additional 1,224,734 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after buying an additional 1,027,475 shares in the last quarter. Finally, Polen Capital Management LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at approximately $477,225,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $401.27 on Thursday. The stock has a fifty day moving average price of $392.35 and a 200 day moving average price of $442.47. The stock has a market cap of $141.76 billion, a PE ratio of 45.96, a P/E/G ratio of 2.90 and a beta of 1.46. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.Intuitive Surgical’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the transaction, the executive vice president directly owned 5,320 shares in the company, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 17,106 shares of company stock worth $6,949,518. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ISRG. Royal Bank Of Canada dropped their price objective on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. HSBC downgraded Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 target price for the company. in a report on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research note on Wednesday. The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a report on Wednesday, May 27th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $508.68.

Key Stories Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Oppenheimer upgraded ISRG to Outperform and set a $500 price target, citing the company’s ability to “crowd out” competitors. The firm believes Medtronic’s Hugo and Intuitive’s Ottava systems pose limited near-term threats to the da Vinci franchise because of workflow, operating-room real-estate and adoption challenges. Oppenheimer upgrade report
• Positive Sentiment: Bernstein reiterated its Buy rating and maintained a $685 price target, pointing to progress on Intuitive’s next-generation gastrointestinal platform. Longer term, continued da Vinci 5 adoption, recurring instruments and service revenue, and expansion into additional procedures support the company’s growth outlook. Bernstein rating report
• Positive Sentiment: The ENCOMPASS post-market study is highlighting Intuitive’s opportunity in robotic-assisted lung biopsy. Progress in this clinical program could broaden use of the Ion platform and create additional recurring procedure-related revenue. ENCOMPASS trial report
• Neutral Sentiment: Intuitive’s second-quarter results were strong, with revenue up 18.4% to $2.89 billion and EPS of $2.80 versus the $2.48 consensus estimate. However, investors are focusing more on forward procedure growth than on the earnings beat.
• Negative Sentiment: U.S. procedure growth slowed in the second quarter. Analysts attributed some of the weakness to Affordable Care Act-related care deferrals, which could be temporary, but the issue raises near-term uncertainty around demand and revenue growth. U.S. procedure growth report
• Negative Sentiment: Insiders reported several sales, including Director Gary Guthart’s 10,000-share sale for approximately $4 million and smaller sales by Director Amy Ladd and EVP Gary Loeb. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as a discretionary bearish signal, but they may weigh modestly on sentiment.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.